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The Treasury’s cash account continues to grow on the Fed’s H41, weekly consolidated balance sheet. It hit $422 billion at the end of November. That’s a firebomb waiting to be thrown at the market in the event of a near certainty of a dead ceiling impasse coming in March. That’s when the deal to suspend…

Projections have dropped. They’re likely to be hit if support here breaks down. This report shows the new targets. Mining stocks still appear to be worth a nibble here based on hints this low in the precious metals stock indexes could hold. I have added a few more picks to the list. The volatility in…

The market spent last week falling back to and testing the breakout area at 2185. If it holds, the bulls are still in charge and the market will have established a new short term uptrend channel. But if doesn’t hold, beware the abyss that lies beneath. Market Update Pro subscribers click here to download the complete…

The TBAC has forecast $390 billion in cash at year end. With the 10 day average balance now at $400 billion it implies that there will be no additional cash pulled from the market for the remainder of the year. However, if the Obama Gang wants to go out with a bang, they could spend…

The European banking collapse paused in October with a minor uptick in total deposits. In addition there was a massive, mysterious revision of the figures from earlier this year. But it doesn’t change the basic facts of how dangerous conditions there are for the US.

The 13 week cycle projection of 1171 was reached. However, the 9-12 month and 6-7 week cycle projections now point to 1155-60. Here’s what needs to happen to signal a turn. The precious metals stock index also looks to be closer to a bottom. I have added a couple of bottom fishing stocks to our…

The market broke through a wall of resistance in the 2185- 90 area. By the end of the week it was well clear of the August peak. A sharp uptrend channel has formed. That needs to be broken before the market can pullback. Here are the key levels to watch and the targets if they’re…

The market hit a wall of resistance in the 2185- 90 area, at the top of the trading range. The trading range is very thin, and a downturn here could see the index quickly fall back to the bottom of the range. However… Market Update Pro subscribers click here to download the complete market update, including…

Technical signals for gold prior to last week had been cautionary, so the selloff in the metal was not a complete surprise. However, the smash in gold stocks was a surprise, and did serious technical damage. Here’s what needs to happen to turn the outlook positive, or what to look for if certain levels do…

Last update highlighted NYA, and noted that the pattern suggested at least a near-term pause/decline was forthcoming after the next bounce, and that call turned out well. Below is the updated chart:As noted previously, SPX’s recent rally bears so…

Two words keep coming to mind as I study the charts right now: “inconclusive noise.” I think it’s vitally important as a trader (and probably as a person, too) to “know when you don’t know.” The near-term possibilities having suddenly spiraled into infinity, so it’s going to be difficult to project the market’s next move until it gives us a bit more info. If you’re a new trader (or a new reader), please don’t be discouraged by this; the market alternates between moments of clarity and moments of ambiguity, and it will clarify again soon enough.

I studied a number of markets yesterday, and while I’m not going to publish charts on every one of them, there are lots of conflicting signals out there. Some updates leave me feeling that I put in a whole lot of work for a very limited reward (for readers), and this is one of those. I’m inclined to give the bears a near-term edge, but my confidence is low at the moment.

I’m going to start off with the Dow Jones Industrials (INDU), since the rectangle pattern here has some fairly clear implications using classic technical analysis.

On the SPX 10-minute chart, I’ve outlined the two near-term bull and bear potentials which presently appear most reasonable, but I have not shown the most bullish of the near-term potentials. I’ll outline that potential briefly here in the body of the article (and on the Russell 2000 chart in a moment): It is possible that the rally from 1538 to 1561 is wave i of 5, and the entire move since is a corrective second wave. That count suggests a target in the 1580-1600 zone and becomes an option above 1565, while it would be invalidated below 1538. The annotations explain the details of the other two counts.

On the hourly chart, I’ve moved a couple labels, but the conundrum remains the same as it’s been. I continue to believe that wave 5 has either completed or will complete with one final leg, at which point we should see a larger turn.

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I’d like to share one last chart which is presently throwing the near-term bear count into disarray — and it’s one of the reasons I’m not ready to declare a high level of confidence yet. The count shown here is fairly bullish for the near-term, and I have listed the key levels. Sustained trade above 954 would suggest a target of 965.

In conclusion, yesterday’s market has left the wave counts inconclusive at multiple degrees. This is often the function of trading ranges. The market regularly alternates between moments of clarity and moments of noise — right now we’re still in the “noise zone,” and we’re simply going to have to be content to watch and wait for the time being. Trade safe.

The original article, and many more, can be found at http://www.PretzelCharts.com

The market has remained within the trading range since last Thursday’s update. There was one new development since then, and that’s the fact that on Friday, the decline overlapped itself in a fashion which indicates…

This is a syndicated repost courtesy of Pretzel Logic’s Market Charts and Analysis. To view original, click here. Reposted with permission. Well, the FOMC meeting yesterday turned out to be a complete dud. In keeping with the spirit of the recent St. Patrick’s Day holiday, Bernanke simply reaffirmed that the green wine of liquidity would continue to…

This is a syndicated repost courtesy of Pretzel Logic’s Market Charts and Analysis. To view original, click here. Reposted with permission. I’m going to keep the body of this article a bit brief and let the charts do most of the talking. Let’s start off with a long-term chart, because I finally feel the time is…

This is a syndicated repost courtesy of Pretzel Logic’s Market Charts and Analysis. To view original, click here. Reposted with permission. Yesterday saw a solid gap down after the weekend Cyprus news, but buyers appeared immediately, and the market rallied strongly into the afternoon, before running into some selling again into the close. The question everyone wants answered now is whether this is merely…

In Friday’s update, I noted the charts were suggesting a turn was approaching, and I speculated that there would be some type of “bad news” event hitting the press this week; I went a step further and speculated that the sourc…

This is a syndicated repost courtesy of Pretzel Logic’s Market Charts and Analysis. To view original, click here. Reposted with permission. While it seems like this rally leg will never end, it is, of course, guaranteed that it will end at some point. I have an interesting theory about where that point may be. What has always…

This is a syndicated repost courtesy of Pretzel Logic’s Market Charts and Analysis. To view original, click here. Reposted with permission. “We cannot put off living until we are ready. The most salient characteristic of life is its coerciveness: it is always urgent, ‘here and now,’ without any possible postponement. Life is fired at us…

This is a syndicated repost courtesy of Pretzel Logic’s Market Charts and Analysis. To view original, click here. Reposted with permission. On Tuesday, the Dow Jones Industrial Average (INDU) managed its eighth consecutive advancing session (though just barely), which is a fairly rare event. In fact, since 2000, there have only been eleven prior instances when the Dow advanced for…

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In case you missed it, The Washington Post’s criminally careless publishing of “fake news” about purported “Russian propaganda” created a backlash–and the Post’s attorney-approved bleating to sidestep responsibility for publishing “fake news” failed to calm the waters.

More of the same didn’t cut it for the American middle class this November, … and so the Obama voters went to the Republicans, as Hillary Clinton failed to impress onto the middle class any sort of vision they can relate to.Per Pew Research, out of 5…

It was nearly 20 years ago to the day that Alan Greenspan delivered his famous “irrational exuberance” speech. Little did he know how far it could go. Even less has his pernicious legacy been accorded the condemnation it so richly deserves.

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Check your inbox for the confirmation email which is sent instantly. If not there, check your SPAM folder and be sure to whitelist the "From: Lee Adler" email address. Your information will *never* be shared or sold to a 3rd party.